Litecoin’s Price Target is Revealed! August 2nd LTC Analysis

  • Litecoin (LTC) price wants to continue its upward trend as long as it stays above $88.88 and can move towards the levels of $95.76 and $103.69.
  • If the LTC price closes below $88.88 on a 4-hour basis, a downward movement is expected and a decline towards the range of $85.77 and $83.37 can be observed. Additionally, closing below $83 may pull the LTC price towards the $80 level.
  • The daily technical chart of Litecoin shows strong buying reactions in the support range of $89.44 to $85.94. As long as it stays above this support range, the LTC price can continue its rise to the $105 level and even to the $115 level.

When we examine the technical chart of Litecoin, we observe that the price has started to rise with strong buying reactions. Movements above $88.88, in particular, stand out as an important factor supporting LTC’s upward trend.

Medium-Term LTC Analysis

Daily LTC/USD Price Chart
Daily LTC/USD Price Chart

When we examine the daily technical chart of Litecoin, we observe that the price has encountered strong buying reactions from the support range of $89.44 to $85.94 and has risen from this support zone. As long as the Litecoin price stays above the support range of $89.44 to $85.94, it can continue its rise from this support zone to the $105 level and then to the $115 level.

If the Litecoin price closes above $115 on a daily basis, it may want to rise to the $132 level. However, for it to realize these upward movements, it is important for the price to continue closing above the $85.94 support on a daily basis.

On the other hand, if Litecoin closes below $85.94 on a daily basis, it can continue the downward movement to the support range of $82.34 to $79.54. Therefore, it is expected that strong buying reactions will be observed from this support range, which is of great importance for Litecoin’s trend. It is important for investors to carefully monitor support and resistance levels.

Short-Term LTC Analysis

4-Hour LTC/USD Price Chart
4-Hour LTC/USD Price Chart

When we examine the 4-hour technical chart of Litecoin, we see that the price is moving above the important support level of $88.88. As long as the LTC price stays above $88.88, it can continue its rise to the $95.76 level and then to the $103.69 region.

However, if the Litecoin price closes below $88.88 on a 4-hour basis, it can perform a downward movement to the range of $85.77 to $83.37. Additionally, if the LTC price closes below $83 on a 4-hour basis, it can continue the downward movement to the $80 level.

The Litecoin price may want to rise to the $115 levels in the coming days, but for this target to be achieved, it is necessary for the price to close and sustain above the $104 level on a 4-hour basis.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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